초록

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Abstract ▼ AI-Helper

This study investigates policy outcomes of the social investment state in comparative perspective, and explores the implications of this particular model in the South Korean case. The prototypcial case of the social investment state, the United Kingdom(UK), was not particularly competitive in terms...

This study investigates policy outcomes of the social investment state in comparative perspective, and explores the implications of this particular model in the South Korean case. The prototypcial case of the social investment state, the United Kingdom(UK), was not particularly competitive in terms of its macroeconomic performance compared to social market economies, and its income and wage gap has been significantly widened during the past 20 years. The model of social investment state is expected to produce even worse outcomes for countries like South Korea, where the basic infrastructure of redistribution and social welfare are less developed than in most liberal market economies. Furthermore, as South Korea experienced radical neoliberal reforms after the financial crisis of 1997, the quality of employment been rapidly deteriorated. Under the condition, it is more urgent to strengthen the regulatory institutions of the labor market than to invest in human resources. Therefore, the South Korean government should pay more attention to the effective redistributive policies which can guarantee the equality of outcomes, and the academic circles and the social movement forces need to explore more progressive and egalitarian social welfare state models that can be applied to the South Korean context.

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